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ACT405 Head of Household Filing Status in Tax System Discussion

by | Aug 31, 2021 | ACT405 | 0 comments

by | Aug 31, 2021 | ACT405 | 0 comments

ACT405 Head of Household Filing Status in Tax System Discussion

During the tax reform discussions, President Trump proposed eliminating the head of household filing status (see Donald Trumps Tax Plan Would Hit Single Parents Hard/). (Links to an external site.)Links to an external site.
Address the following points in your discussion post:

What are the fundamental purposes of filing statuses in the tax system?/
Which of Adam Smiths principles of taxation do filing statuses provide to the tax system? Why?
Who in our society would benefit or suffer if the head of household filing status is eliminated (address both groups)?
What are some impacts of the head of household filing status (benefits and detriments, both intended and unintended)?

Your posting should be 400-500 words, no need for cover page. Please don’t use Investopedia.com or Accountingtool.com.

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